Global Narrowband IoT Market: Key Highlights
Global Narrowband IoT Market: Key Market Dynamics
Global Narrowband IoT Market: Regional Overview
The Asia Pacific is anticipated to become the global leader in the Internet of Things (IoT) spending as businesses build out viable go-to-market strategies across the region. According to the United States-China Economic and Security Review Commission, China projected to increase their adoption of IoT in developed countries for enhancing its business growth and for operational benefits. Moreover, in 2013 China has established an IoT focused inter-ministerial council expert advisory committee to enhance the coordination between overlapping areas. Furthermore, in 2015 there was more than 90% of China’s provinces and municipalities which has been listed the Internet of Things (IoT) as a major industry in their development plans. According to the Federation of Indian Chambers of Commerce & Industry, the IoT technology adoption is expected to grow in India at the CAGR of 137% and USD 1.9 Billion in 2020.
Hence, in 2017 China Telecom has made nearly 28 million IoT connections in China which are projected to increase the demand for the narrowband IoT market in the region.
Owing to the rapid growth of the technologies industry in Europe, the demand for IoT insurance is expected to increase. According to the European Commission, in 2016, IoT European Platform Initiative (IoT-EPI) was launched for better operation and security for the citizens. Moreover, the region is in an attractive position to become a worldwide leader for the IoT. In Germany, the IoT is more focusing on Industry 4.0 plans to enhance its manufacturing industries. Furthermore, the European Union (EU) also funding in IoT research by the Horizon 2020 program.
Therefore, the growing adoption technology in the region will be projected to lead the demand for the market.
Global Narrowband IoT Market: Key Players Overview
Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. The company is also engages in the provision of telecommunications equipment, consumer electronic products including smartphones. Moreover, the company offers a different range of IoT solutions for industries and operators which contain pen source operating system, eLTE/NB-IoT/5G networks, n IoT connection management platform, and IoT network integration services and Huawei LiteOS, IoT communication. Furthermore, in 2018, Huawei releases World's First 3GPP R14-based Commercial NB-IoT Solution which will help to enhance the performance.
Samsung Electronics Co., Ltd. manufactures a wide range of industrial electronic equipment and product which includes monitors, televisions, semiconductors, and home appliances. The company also produces internet access network systems and telecommunication equipment. Moreover, Samsung’s cellular IoT solution fully complies with the 3GPP IoT standard of CAT-0, CAT-1, CAT-M and NB-IoT. The company also provides an IoT standalone base solutions that supports NB-IoT. In 2019, Samsung signed an expansion contract with KT Corporation (KT) to provides a solution for public safety (PS-LTE) network which will be based on 3GPP standard Release 13 for 10 major metropolitan regions in South Korea includes Seoul by 2020.
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